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takyon writes:

HPCWire reports that Dell is purchasing storage, security, virtualization, and cloud computing provider EMC Corporation for $67 billion:

Dell will buy the storage provider EMC (NYSE: EMC) in a deal worth about $67 billion, reports The New York Times today (Dell Announces Purchase of EMC for $67 Billion). Dell and the investment firm Silver Lake, its financial backer, are betting that a huge acquisition will help one of the best-known names in the industry keep up with the rapidly changing technology industry.

"Under the terms of the deal, Dell will pay $33.15 per EMC share, which includes cash plus tracking stock linked to part of EMC's economic interest in VMware, a publicly traded business. The Dell founder and chief executive, Michael S. Dell will lead the combined company as chairman and chief executive.

"For the last two years, since taking the company private, Mr. Dell and Silver Lake have been trying to help it adapt to a changed tech landscape. Buying EMC brings Dell one of the biggest names in computer data storage, adding to existing offerings like network servers, corporate software and mobile devices," according to the NYT report.

Addison Snell, CEO of analyst firm Intersect360 Research said, "With the number-one market share company for HPC servers purchasing the number-one market share company for HPC storage, of course this deal has ramification for HPC users. For Dell it is a chance to drive an end-to-end high-performance data strategy, which has been an area they have sought to improve. For EMC, it is a chance to consolidate separate lines into a cohesive high-performance strategy — right now, Isilon and XtremIO are isolated businesses. And with virtualization now on the rise in HPC environments, Dell will want to see if VMware can be a valuable component."

CNN characterizes it as the "biggest tech deal of all time".

Additional thoughts from El Reg are not all unicorns and sunshine.

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